 "Top headlines: Feb inflation rises to 6.07%; Chandra named AI chairman")
India's retail inflation rises marginally to 6.07% in Feb
India's retail inflation rose marginally in February, staying above the upper limit of RBI's tolerance band, showed government data on Monday.
Inflation, as measured by the consumer price index (CPI), rose to 6.07% in February on an annual basis, from 6.01% in January and 5.03% in February 2021. Read more
N Chandrasekaran, Tata Sons chief, appointed as chairman of Air India
N Chandrasekaran, the chairman of Tata Sons, has been officially appointed as the chairman of Air India, reported news agency ANI on Monday. The appointment was cleared at a board meeting held today by Air India.
Alice GeeVarghese Vaidyan, former CMD of General Insurance Corporation, will also be inducted as an independent director on board, reported Economic Times on Monday. Read more
Fully compliant with RBI data localisation directions: Paytm Payments Bank
Paytm Payments Bank on Monday said it is fully compliant with the data localisation rules of the Reserve Bank of India and the entire data of the bank resides in the country.
The RBI last week directed Vijay Shekhar Sharma- promoted Paytm Payments Bank Ltd (PPBL) to stop opening new accounts amid "material supervisory concerns" observed in the bank. Read more
Microfinance lenders cannot charge usurious interest rate: RBI
Microfinance lenders cannot charge usurious rate of interest from borrowers, the Reserve Bank said on Monday, and also asked them to put in place a ceiling on pricing of loans and related fees.
A microfinance loan is defined as a collateral-free loan given to a household having an annual income of up to Rs 3 lakh. Read more
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